Billionaire Larry Ellison is the Buyer of Joel Silver’s Malibu Home

The Oracle co-founder paid $38 million for the California beachfront property

Tech billionaire Larry Ellison is the new owner of the Malibu, California, home sold by Hollywood film producer Joel Silver, after parting with $38 million for the beachfront home at the end of March, according to property records.

The property was purchased through a limited liability company linked to the Oracle co-founder’s foundation. It was first listed for $57.5 million in April 2016, listing records show.

Located on Malibu’s Pacific Coast Highway, the two-story home has five bedrooms, six bathrooms, a chef’s kitchen, a detached guest house and is the only property on Carbon Beach with a tennis court, according to the listing.

Listing agent Judy Feder of Hilton & Hyland, described it as a “legendary house,” having been home to three big producers. Mr. Silver, 65, bought the house from Robert Chartoff, the movie producer best known for “Rocky” and “Raging Bull,” for $14.375 million in 2003, according to property records. Chartoff bought the home from William Peter Blatty, the writer of “The Exorcist” and screenwriter and producer of its 1973 film adaptation, according to Ms. Feder.

Mr. Silver, is most well known for producing action films including the “The Matrix” trilogy and the first two “Die Hard movies.” A representative for Mr. Silver did not immediately respond to request for comment.

Mr. Ellison, 73, reportedly owns multiple properties on Carbon Beach. His company did not immediately respond to request for comment.